Onera Health, developer of a patch-based home sleep test, announced it raised over €30M ($32 million) in a Series C financing round, which will allow the company to accelerate manufacturing and deployment plans for its self-applied, no-wire polysomnography (PSG) solution.

Additionally, the company intends to use the funds to expedite the clearance of the second generation of its PSG system in the United States and Europe.

This latest funding round brings Onera’s total investment to date to more than €55 million. The round was led by new investor EQT Life Sciences, investing from its EQT Health Economics 3 fund, co-led by new investor Gimv, and joined by existing investors, including Innovation Industries, Invest-NL, imec.xpand, BOM, and 15th Rock.

“This capital infusion will accelerate our ability to scale in the US and Europe,” says Ruben de Francisco, founder and CEO of Onera Health, in a release. “We will continue aggressively investing in R&D, customer success, and geographic expansion to help the medical field provide the much-needed answers for millions of people affected by sleep disorders..”

Drew Burdon, partner at EQT Life Sciences, says in a release, “We are dedicated to growing companies with the potential to have a meaningful impact on society, and Onera is strongly aligned with this mission. The company demonstrated a very strong product-market fit with great potential to improve the quality of patient care while also positively impacting the cost of healthcare. 

As part of this transaction, Burdon and Michaël Vlemmix, partner at Gimv Life Sciences, will join Onera’s board of directors.

Next month, Onera will showcase its product and discuss its impact at the American Academy of Sleep Medicine event Sleep Medicine Trends 2024 on Feb 23–24 in La Jolla, Calif.